U.S. Banks Hit Record Profit in 2013; Failures Cut Nearly in Half - FDIC
Tweet
Share
E-mail
According to the latest data from the Federal Deposit Insurance Corp (FDIC), U.S. bank earnings hit a record-high in 2013.
FDIC said U.S. banks recorded profit of $154.7 billion last year, while Q4 profit rose 16.9 percent to $40.3 billion. Banks have increased earnings in 17 of the last 18 quarters.
Data had overall operating revenue down 1.7 percent to $2.8 billion last year, according to the FDIC.
The total numbers of banks on the FDIC's
On watch include SPDR KBW Bank (NYSE: KBE), SPDR S&P Regional Banking (NYSE: KRE), and Select Sector Financial SPDR (NYSE: XLF).
FDIC said U.S. banks recorded profit of $154.7 billion last year, while Q4 profit rose 16.9 percent to $40.3 billion. Banks have increased earnings in 17 of the last 18 quarters.
Data had overall operating revenue down 1.7 percent to $2.8 billion last year, according to the FDIC.
The total numbers of banks on the FDIC's
problem listfell for the 11th quarter to 467 banks. The data also had 24 bank failures in 2013, from 51 in 2012.
On watch include SPDR KBW Bank (NYSE: KBE), SPDR S&P Regional Banking (NYSE: KRE), and Select Sector Financial SPDR (NYSE: XLF).
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Growth isn't weak enough to truly undercut inflation pressures - BMO
- Comerica (CMA) PT Raised to $54 at Piper Sandler
- Wells Fargo on Super Micro Computer (SMCI): 'No Positive Preannouncement
Create E-mail Alert Related Categories
ETFs, Insiders' BlogRelated Entities
Standard & Poor's, FDIC, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
